Since alerts will not be used between different processes, you need to use Darwin notifications. You can easily use the openParentApplication:reply: method to send updates from the Watch Extension application to the iOS application, but Apple has no way to send events from the iOS application to the viewing extension.
I suggest you use the MMWormhole (or you own the implementation of Darwin notifications) to send Darwin notifications when the Core Data Object is updated. Here is an article describing the operation of the library.
If you update the Core Data object in a time zone extension, send a Darwin delivery notification (or send a message) to the iOS application, telling the application that it needs to update the Core Data object. The same approach can be used in a different direction: from an iOS application to an extension of the time zone.
Also, if the objects are really simple, then CoreData might be redundant. You can use MMWormhole to simply cache the lightweight dictionary that is used at both ends. I have been using this approach for several weeks and it works flawlessly in both directions.
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